Environmental nonprofit Canopy secures $60M in funding

Read the full story at Fashion Dive.

Environmental nonprofit Canopy secured $60 million in funding from The Audacious Project to accelerate its commercial-scale production of low-impact and circular clothing solutions derived from what is usually put in a landfill or burned, per a news release.

Canopy focuses on protecting and preserving ancient and endangered forests by partnering with companies including H&M Group, Inditex and LVMH to remove pulp-based materials such as viscose from the supply chain.

The funding — its largest to date — marks a major boost to its campaign, which has seen massive growth as sustainability becomes a more public issue in the fashion space.

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